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Cash $tash: The TDECU Revolving Credit Line

Do you need a way to access cash quickly? Try TDECU's revolving line of credit. It has lower interest rate than a credit card and requires no collateral.

Cash $tash: The TDECU Revolving Credit Line

When you need cash — and you don't have savings — you have options. If you own your home and have access to a home equity loan or other home equity lines of credit (HELOCs), you could use that. You could also use a credit card, but the interest rates could end up making whatever unexpected expense you're facing three times worse down the road. If you need cash, and these more traditional routes to getting it aren't open to you, there are still other types of credit. One that not many people know about. Revolving lines of credit.

What is Revolving Credit?

A revolving line of credit is a type of loan — like TDECU's Cash $tash line of credit — that makes it easy for borrowers to get cash when they need it. When you open a revolving line of credit at your financial institution, you can borrow up to your credit limit. As soon as you pay the debt off, however, you can borrow up to your credit limit again, without ever having to reapply for the revolving loan. The amount of credit you're extended is based on your personal financial situation, so it’s affected by things like a student loan or auto loan payments, your credit score, your monthly cash flow, and the like.

Traditional Loan Vs. Revolving Loan

With a traditional, or non-revolving loan, the loan issuer pays out the full amount of money upfront, because the borrower needs that exact amount to purchase something right now, such as a home or auto loan. Once that fixed amount has been paid out and used, it can't be accessed and used again. The loan usually lasts for years, during which time the lender makes money off of interest payments. 

Traditional loans like the ones described here begin to accrue interest on the loan amount immediately. With a revolving line of credit, funds can be accessed whenever they’re needed, similar to a credit card, and the borrower only has to pay interest on whatever funds they’ve withdrawn.

Cash $tash

Cash $tash revolving credit account line is a lower interest way for customers to get fast cash. It requires no collateral, and you can use the funds made available — up to the maximum amount of the loan — for almost anything you'd like once you've been approved. TDECU's Cash $tash allows for flexibility in repayment. Many people make monthly payments until they've paid off the full balance, but if at any time, you need to access your credit line again — whether for a cash advance or a bill payment — you can. Cash $tash can also be used for overdraft protection.

Get the cash or credit you need right when you need it. Easily apply online for your very own revolving line of credit with Cash $tash today. 

Equal Housing Lender